MCPLC earns revenue in several forms from its activities within the legal services industry.  Generally speaking, we bill by the hour pursuant to the specific terms of written engagement agreements with our clients.  In certain circumstances, we may require retainer fees.

MCIS earns revenue in several forms from its activities within the insurance industry. Those forms may include, but are not necessarily limited to: 

Compensation directly related to specific transactions – Concerning the placement of insurance or surety contracts, such directly related compensation may include commissions paid by insurers or sureties, and/or overrides paid by intermediaries (such as wholesale and surplus lines brokers), which are calculated as a percentage of the premiums charged to our clients. Directly related compensation may include fees charged to clients in lieu of or in addition to commissions. Where such fees are charged, they will be negotiated with clients and disclosed to them. Where we assist in arranging premium financing, we may be paid compensation by the premium finance company based on a percentage of the financed amount, which compensation will be disclosed to the client as required by law.

Compensation derived from multiple transactions – We may also derive revenue which is dependent upon or related to multiple transactions. Some, but not all, insurers, sureties and insurance intermediaries may offer such compensation, which is sometimes referred to as contingent commissions or profit-sharing payments. Whether we receive such compensation and, if so, the amount thereof, is determined by one or more factors which include, but are not necessarily limited to, the volume of new, renewal or total business produced by us and/or the profitability of that business when taking into account such factors as insurance losses and expenses. We typically arrange premium financing for substantially all of our clients with a single premium finance company. 

Most forms of compensation set forth above are subject to negotiation as to rates or amount and may be influenced by the volume or profitability of business between us and the companies paying such compensation. Some or all compensation may be waived by us in our discretion. 

Income derived from other activities – We may derive income from other activities such as  investment income, usually in the form of interest, on funds held for clients and insurers by us in a fiduciary capacity, as premiums, return premiums, claim payments or otherwise. We may derive compensation in the form of commissions or fees from managing underwriting or captive insurance or reinsurance companies, which may insure or reinsure risks relating to our clients. Such return on investments is usually in the form of dividends, but it may occur as capital appreciation or in other forms.

If you have any questions regarding the compensation or income received by us, please contact our Managing Principal at (949) 365-5810.